DALLAS, March 30,
2022 /PRNewswire/ -- Copart, Inc. (NASDAQ: CPRT)
today announced that its Board of Directors has appointed
Jeff Liaw, who has been serving as
President and CEO North America, to co-CEO, effective April 1. Jay Adair
will continue his leadership of the company as co-CEO and as a
member of the Board of Directors.
Jeff joined Copart in 2016 as Chief Financial Officer and was
promoted to President in 2019. Jeff was named CEO North America in
February of 2021. Prior to joining Copart, Jeff served as the CFO
of FleetPride, Inc. and as a principal of TPG Capital Management,
L.P., a private equity firm. Jeff earned a B.A. and B.B.A. from the
University of Texas, and an M.B.A. from
Harvard.
Commenting on Jeff's appointment, Willis
Johnson, Chairman of the Board of Directors said: "We are
pleased to appoint Jeff as co-Chief Executive Officer. As President
and more recently, CEO North America, Jeff has demonstrated an
unparalleled ability to drive innovation, inspire his colleagues
and enhance our strong partnerships with customers." Mr. Johnson
added, "Jay's continued oversight of strategy, business
development, capital allocation, and the Company's vision will
allow collaboration with Jeff, further strengthen the leadership of
Copart and ensure continuity in management and succession planning.
I look forward to the continued success of Copart under their
partnership."
"I'm honored to partner with Jeff as co-CEO," said Jay Adair. "Working with Jeff over the past six
years, I have been impressed with his understanding of our
operations, his relentless focus on improving our processes and
performance across the organization, and the insights his prior
experiences have brought to our team. Jeff is an extremely talented
leader and I have never been more confident in our future."
Jeff Liaw stated, "I am thrilled
to accept this new role and thank Willis, Jay, and the rest of the
organization for their trust in me. We remain committed to
innovation and excellent customer service as the path to our
continued profitable growth."
About Copart
Copart, Inc., founded in 1982, is a global leader in online
vehicle auctions. Copart's innovative technology and online auction
platform links sellers to more than 750,000 Members in over 170
countries. Copart offers services to process and sell vehicles to
dealers, dismantlers, rebuilders, exporters, and to the general
public. Copart sells vehicles on behalf of insurance companies,
banks, finance companies, charities, fleet operators, dealers,
vehicle rental companies, and individuals. With operations at over
200 locations in 11 countries, Copart has more than 250,000
vehicles available online every day. Copart currently operates in
the United States (Copart.com),
Canada (Copart.ca), the
United Kingdom (Copart.co.uk),
Brazil (Copart.com.br), the
Republic of Ireland (Copart.ie),
Germany (Copart.de), Finland (Copart.fi), the United Arab Emirates, Oman and Bahrain (Copartmea.com), and Spain (Copart.es). For more information, or to
become a Member, visit Copart.com/Register.
Cautionary Note About Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of federal securities laws, including statements
concerning the potential impact of the COVID-19 pandemic on our
business, operations, and operating results. These forward-looking
statements are subject to substantial risks and uncertainties.
These forward-looking statements are subject to certain risks,
trends and uncertainties that could cause actual results to differ
materially from those projected or implied by our statements and
comments. For a more complete discussion of the risks that could
affect our business, please review the "Management's Discussion and
Analysis" and the other risks identified in Copart's latest Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current
Reports on Form 8-K, as filed with the Securities and Exchange
Commission. We encourage investors to review these disclosures
carefully. We do not undertake to update any forward-looking
statement that may be made from time to time on our behalf.
CONTACT: Fatima Ali,
972-489-3713, fatima.ali@copart.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/copart-promotes-jeff-liaw-to-co-chief-executive-officer-301514332.html
SOURCE Copart, Inc.